Macrotech Developers shares to list on BSE, NSE on Monday

Macrotech Developers, which recently concluded its Rs 2,500-crore initial public offering, will make its debut on the stock exchanges on April 19, Monday. The equity shares will be listed on the BSE and the National Stock Exchange.

Earlier, the IPO of realty major was subscribed 1.36 times on the last day of subscription on April 9. The issue received bids for 4,94,64,480 shares against 3,64,18,219 shares on offer, as per NSE data. The portion meant for qualified institutional buyers (QIBs) was subscribed 3.05 times, non-institutional investors 1.44 times and retail individual investors (RIIs) 40 per cent.

The price range for the offer, which hit the capital market on Wednesday, was fixed at Rs 483-486 per share. Macrotech Developers Ltd, erstwhile Lodha Developers, also raised Rs 740 crore from anchor investors.

This was the third attempt by Lodha Developers to launch a public issue and list its shares on the stock exchanges. In 2009 and 2018, the company had filed IPO documents and also got Sebi approval but did not hit the capital market as market conditions were not conducive.